‘A STUDY ON PERCEPTION TOWARDS HEHALTH INSURANCE IN SURAT CITY’ 1

A Winter Internship Project Report On

“A Study on Perception Towards Health Insurance

in Surat City”

Submitted in Partial Fulfillment of the requirements of the award

for the degree of

Bachelor of Business Administration

By

BHARAT RAMESHBHAI MORADIYA

Roll No:- 38

Third Year:-B.B.A.

(Marketing)

Under the Guidance of

Dr. Pratik C. Patel

Submitted to

Sarvajanik Education Society

B.R.C.M College of Business Administration

Veer Narmad South Gujarat University, Surat

2022-23

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DECLARATION

I, Bharat Rameshbhai Moradiya hereby declare that the project report entitled “A
study on Perception towards Health Insurance in Surat city”, under the guidance of
Dr.Pratik C. Patel submitted in partial fulfillment of the requirement for the award of
the degree of Bachelors of Business Administration to Veer Narmad south Gujarat
university, surat is my original work - research - study carried out during sixth semester
(2022-23) and not submitted for the award of any other degree of any other institution /
organization of University.

Bharat Rameshbhai Moradiya

Specialization:- Marketing

Roll No.:38

Sign:-

Date:- 9th March,2023

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ACKNOWLEDGMENT

The satisfaction and euphoria that accompany the successful completion of any task would
be incomplete without the mention of the leaders, whose constant guidance and
encouragement crown all the efforts with success.

We are highly obliged to the Veer Narmad South Gujarat University for arranging the
programme of practical training in Bachelor of Business Administration in such a manner.

We would like to extend our gratitude to Dr. Pratik C. Patel, who guided us useful
information and data regarding the subject with their cent percent participation and
supported in making this project report a successful task and also like to thank to our
honourable principle Dr. Jayesh Desai who always motivated us timely. It was a
memorable experience to complete our winter training project.

Finally, we express our intense gratitude to our parents and brother whose blessing has
helped us to translate our efforts into fruitful achievement.

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EXECUTIVE SUMMARY

The Project has been submitted to fulfil the requirement of my college in B.B.A program
of VNSGU. The Objective of the project report is to find, “A study on Perception
towards Health Insurance in surat city”.

The survey was done to know the perception of respondents towards the health insurance
with reference to respondents of surat city.

The primary objective this study to know the awareness of Consumers about Health
Insurance and the barriers they faced while taking health insurance.

Here, Descriptive Research design was used for the study and research was conducted
through Convenience non-probability sampling Method. In this study 200 responses are
collected through Personal interview. At last, data analysis is done with the use of SPSS
software and MS Excel.

This project will you to understand the perception of respondents towards the health
insurance and which are the reasons for not buying health insurance for themselves and
their family.

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INDEX

Ch. No. Particular Page No.

Title Page 1
Certificate 2
Declaration 3
Acknowledgement 4
Executive Summary 5
Index 6-7
List of Tables 8-10
1. Introduction of Sector 11
What is Insurance? 12
Regulatory Body:- IRDAI 13-15
2. Introduction of Topic 16
Introduction on Health Insurance 17
What is Health Insurance 17
Features 18-20
Advantages & Disadvantages 20-23
List of Companies Provide 24-25
Types of Various Policies 25-28
Impact of Covid-19 28-29
Growth during Pandemic 30-32
3. Objectives 33
Literature Review 34-36
Proposed Title of Project 37
Objectives 37

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4. Research Methodology 38
Research Gap 39
Research Design 39
Scope of the Study 39
Population 39
Sampling 39
Data Collection 40
Data Analysis 40
Projected Limitation 40
Further Future Scope of the Study 40
5. Data Analysis and Interpretation 41
Demographic Segments 42-44
Research Related Questions 44-61
6. Finding & Conclusion 62-64
Bibliography 65
Annexure 66-69

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LIST OF TABLES

Table. No. Page No.

1. 42
2. 42
3. 43
4. 43
5. 44
6. 44
Chart 1 45
Chart 2 46
Chart 3 47
Chart 4 48
7.1 48
7.2 49
8.1 49
8.2 50
9.1 50
9.2 51
10.1 51
10.2 52
11.1 52
11.2 53
12.1 54
12.2 54
13.1 55

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13.2 55
Chart 5 56
Chart 6 57
Chart 7 58
14 59
15 60
Chart 8 61

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CHAPTER:-1
Introduction of Sector

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What is Insurance?
 Insurance is a legal agreement between two Parties:- The Insurer and the Insured. It is
also known as insurance coverage or insurance policy. The insurer provides financial
coverage for the losses of the insured that he/she may bear under certain circumstances.
 Insurance coverage can be defined as a contract in the form of a policy. This policy
covers the monetary risks of an individual due to unpredictable contingencies. The
insured is the policyholder. The insurer is the insurance providing company or the
insurance carrier or the underwriter. They provide coverage or reimbursement to the
policyholder.
 The policyholder pays a certain amount called “Premium” to the insurance company
against which the latter provides insurance cover. The insurer assures that it shall cover
the policyholder’s losses subject to certain terms and conditions. Premium payment
decides the assured sum for insurance coverage or Policy limit.
 Insurance policies can cover up medical expenses, vehicle damage, loss in business or
accidents while traveling, etc. Life Insurance and General Insurance are the two major
types of insurance coverage. General Insurance can further be classified into sub-
categories that clubs in various types of policies. These are:- Life Insurance and
General Insurance (Non-life Insurance).
 Life Insurance One can avail in order to protect the family due to premature death or
death during the tenure of the policy. It provides the family with a lump sum when the
insured person meets with an untimely death. This helps the grieving family to battle
with financial struggles that may occur in absence of a breadwinner.
 Non-life insurance policies count as general insurance policies that include insurance
coverage for home, auto, education, etc. These includes Health Insurance, Education
Insurance, Home Insurance, Motor or Vehicle Insurance, Travel Insurance etc.
 Here, we will see how health insurance affects people’s perception on buying it during
Covid-19 Pandemic.

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Regulatory Body IRDAI:-

 Many of us might have heard the term “IRDA”. It is nothing but the abbreviation of
the Insurance Regulatory and Development Authority of India. The Authority acts
as the regulator of the insurance industry in India and oversees the functioning of the
Life Insurance and General Insurance companies operating in the country. The main
objective of the IRDAI is to protect the interests of the policyholder and regulate the
insurance industry. To know the various functions and the role of IRDA in the Indian
insurance sector, read on to learn about the apex body of insurance providers in India.

 Establishment of IRDAI:-
 The Government of India was the regulator for the insurance industry until 2000.
However, to institute a stand-alone apex body, the IRDAI was established in 2000
following the recommendation of the Malhotra Committee report in 1999. In August
2000, the IRDAI began accepting applications for registrations through invites and
allowed companies from other countries to invest up to 26% in the market.
 The IRDA has outlined several rules and regulations under Section 114A of the
Insurance Act, 1938. Regulations range from registration of insurance companies for
operating in the country to protecting policyholder’s interests. As of December 2021,
there are 34 General Insurance companies and 24 Life Insurance companies who are
registered with the IRDAI.

 Objective of IRDAI:-
 The main objective of the Insurance Regulatory and Development Authority of India
is to enforce the provisions under the Insurance Act. The mission statement of the
IRDAI is:-
1. To protect the interest and fair treatment of the policyholder.
2. To regulate the Insurance industry in fairness and ensure the financial soundness of
the industry.
3. To regularly frame regulations to ensure the industry operates without any
ambiguity.

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 Important Role of IRDAI in Insurance Sector in India:-

 The insurance industry in India dates back to the early 1800s and has grown over the
years with better transparency and focus on protecting the interest of the policyholder.
The IRDAI plays an integral role in emphasizing the importance of policyholders and
their interest while framing rules and regulations. Here are the important roles of the
IRDAI:-
 To protect the policyholder’s interests.
 To help speed up the growth of the insurance industry in an orderly fashion, for the
benefit of the common man.
 To provide long-term funds to speed up the nation’s economy.
 To promote, set, enforce and monitor high standards of integrity, fair dealing,
financial soundness and competence of the insurance providers.
 To ensure genuine claims are settled faster and efficiently.
 To prevent malpractices and fraud, the IRDAI has set up a grievance redress forum
to ensure the policyholder is protected.
 To promote transparency, fairness and systematic conduct of insurance in the
financial markets.
 To build a dependable management system to make sure high standards of financial
stability are followed by insurers.
 To take adequate action where such high standards are not maintained.
 To ensure the optimum amount of self-regulation of the industry.

 How Does IRDAI Work?

 The apex body of the insurance industry, the IRDAI, ensures it frames rules and
regulations without any ambiguity towards any particular insurance company. To
ensure fairness and the financial soundness of the industry, the main work of IRDAI
revolves around the policyholder’s interests. Refer to the following roles that the
IRDAI is mainly involved in:-
 Issues certificate of registration to new insurance companies.
 Sets rules and regulations to ensure the interests of the policyholder are taken care
of.

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 Monitors all claims are settled in all fairness and that no insurer will deny any claim
on their own free will.
 Regulates the code of conduct of the insurance companies, insurance
intermediaries, and others associated with the insurance industry.
 Provides solutions in case of disputes through the IRDAI ombudsman.
 Controls and regulates the rates of insurance to prevent unwanted price hikes in the
insurance premium.
 The apex body is responsible for setting the minimum percentage limit of insurance
companies for General and Life Insurance, thereby developing both urban and rural
sectors.

 New Rules and Guidelines for Health and Mediclaim Insurance by

IRDAI during Pandemic:-
 The IRDAI is the apex body which is responsible for framing new rules and guidelines
for health insurance in the country. The regulator has issued new IRDAI rules for health
and mediclaim insurance in 2020, and they are:-
1. Rejection of Claims:-
 The insurer cannot reject a claim if the policyholder has renewed the policy for eight
years without any break or lapse. This period will be known as the moratorium period.
The insurer cannot appeal to the IRDAI for the rejection of the claim except in case of
fraud or in case the claim is raised against the exclusion of the policy.
2. Inclusion of Telemedicine:-
 With the advent of digitalization, the medical service has changed and one can consult
a doctor through online consultations. IRDA has asked insurers to include telemedicine
consultations in the insurance policy.
3. Settlement of Claims:-
 If the insurer delays settling the claim, then the insurance company is liable to pay
interest on the claim amount. It should ensure the claim is settled within 30 to 45 days
from the submission of the last document by the policyholder.

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CHAPTER:-2
Introduction of Topic

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Introduction on Health Insurance:-

 How many accident you need to realize that you need Health Cover? It takes just one
visit to a hospital to make us realize how vulnerable we are, every passing second. For
the rich as well as poor, male as well as female and young as well as old, being
diagnosed with an illness and having the need to be hospitalized can be a tough ordeal.
 Heart problems, diabetes, stroke, renal failure, cancer etc. the list of lifestyle diseases
just seem to get longer and more common these days. Thankfully there are more
specialty hospitals and specialist doctors but all that comes at a cost.
 The superrich can afford such costs, but what about an average middle class person.
For an illness that requires hospitalization, surgery, costs can easily run into five digit
bills. A Health insurance policy can cover such expenses to a large extent.

What is Health Insurance?

 Health insurance is a type of insurance coverage that pays for health and medical
expenses. Health insurance covers some or all of the costs of routine care, emergency
care, and treatment for chronic illnesses.
 Health insurance companies charge their customers a monthly premium for coverage,
and in exchange the company agrees to pay all or most of the person’s medical costs.
Even under the most generous plans, insured people must pay various out-of-pocket
expenses for medical care. Primarily these expenses include copays and deductibles,
which are up-front costs paid by the insured to medical professionals before they
receive services.
 Health insurance plans fall into two broad categories:- Private insurance and Public
insurance. Private plans are available from health insurance companies and are most
commonly obtained through employers. In contrast, public insurance is provided by the
government to eligible individuals and families. Government insurance plan offered at
little to no cost to low income people who qualifies and the coverage available varies
from state to state.

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Features of Health Insurance:-

1. Sub-Limits on Room Rent:-
 Room Rent is one of the major expenses we have to bear if any member of our family
gets hospitalized; so some general insurance companies cap the maximum amount that
they will pay under their health insurance plan. Generally such limit is to the extent of
1% of sum assured and in case of ICU (Intensive Care Unit) the maximum limit is 2%
of sum assured. But there are various general insurance companies which do not have
any maximum limit on room rent, so we should look for such health insurance plans.

2. Pre-Existing Diseases:-
 Pre-Existing Diseases are those which we are suffering from before opting to buy a
health insurance plan, and therefore insurance companies do not cover them from day
1 of our policy. They have a waiting period ranging between 2-4 years in which they
will not be liable for any claim arising on account of our pre-existing disease. Therefore
we should look for health plans which will cover our existing disease and have the least
number of years of waiting period.

3. Co-Payment:-
 Co-payment is a clause in health insurance plans that requires cost-sharing by the
policyholder. Cost sharing is the specified percentage of the admissible claim amount.
Let's take an example to understand it better. Suppose we have a health insurance plan
which has a 20% co-payment clause; so in case we are hospitalized and our claim
amount is Rs 1 lakh, then as as an insured would be liable to bear Rs 20,000 (Rs
1,00,000 * 20%), while the rest i.e. Rs 80,000 would be settled by the insurance
company. Hence, ideally we should look for health insurance plans which do not have
any co-payment clause at any stage of our life.

4. Network Hospital:-
 Network hospitals are those which have a direct tie up with our health insurance
company; so in case of a claim we can avail the cashless facility. Cashless facility saves
us from the headache of settling the bill amount with the hospital, as insurance
companies directly settles our bill on our behalf. Hence in such a case, we do not have

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to file for the reimbursement of claim due to insurance company already haven settled
the claim. We should ideally look for health insurance plans which have the maximum
number of network hospitals, and more importantly, maximum number of good
network hospitals in our city.

5. Pre & Post Hospitalization Expenses:-

 Pre-Hospitalization expenses are those expenses which are incurred before you are
hospitalized while Post-Hospitalization expenses are those which are incurred after you
are hospitalized. Pre-Hospitalization expenses are generally covered for minimum of
30 days while Post-Hospitalization expenses are generally covered for 60 days. But
there are insurance companies which cover pre and post hospitalization expenses for
more number of days as well. So you should look out for health insurance plans which
cover you for maximum number of days of pre and post hospitalization period.

6. No-Claim Bonus:-
 Health insurance claim only erupts in the year of hospitalization, in the years where
you've been in pink of your health (by God's grace), the insurance companies also
provides you with a no claim bonus. This has an effect of increasing your sum assured
in next renewal of the policy. Such bonus can range between 10-50% for a claim free
year. Hence you should look for a policy which provides you highest no claim bonus.

7. Exclusions:-
 Once we buy a health insurance plan, we might feel relaxed that we have covered us
and our family against any possible hospitalization in future. But if we don't go through
the exclusion section of our policy, then we might get surprises at the time of claim. So
before finalizing on any health insurance plan go through its exclusion and select the
one which has least number of exclusions and are clearly defined.

8. Premium:-
 Premium we would pay is a vital aspect we should consider while buying a health
insurance plan; but mind us, it shouldn't be paramount in our selection process. Just
think, we buy a health plan with a very low premium without even taking into
consideration the features of the policy. At the time of claim we learn that the insurance

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company is not liable to reimburse our as the cause for which we were hospitalized was
not covered under the policy.

Advantages and Disadvantages of Health Insurance:-

 As health insurance is one of the most important purchases in life, one should
thoroughly understand the good and the bad before making a purchase. To help you
make an informed decision, some key Advantages and Disadvantages of health
insurance are listed below:-
 Advantages:-
1. Keeps you financially protected:-
 The biggest benefit of purchasing health insurance is that it prevents deduction of our
long-term saving. We might be saving and investing for goals such as buying a property
or child’s education, but we or someone in our family suffering from a medical
emergency can require us to liquidate our assets.
 If we are still unable to manage the expenses, we might also go ahead and borrow
money from family, friends, or take a loan. All of these things can put a huge dent on
our current financial health as well as long-term objectives. Having health insurance
can help us to avoid such outcomes due to the rising cost of quality healthcare.

2. Availability of Options:-
 Gone are the days when insurers only used to offer basic health insurance plans.
Modern insurance providers now offer a wide range of health insurance policies. For
instance, most insurers now offer individual policy and family floater plans. You get to
protect yourself with an individual plan, but with a family floater plan, you can insure
the health of your entire family.
 Apart from these two popular options, you can also find other types of health plans like
ULHP (Unit Linked Health Insurance), critical illness plan, group health insurance,
personal accident plan, and hospital cash benefit plan. The availability of so many
options ensures that you can select a policy that best meets your requirements.

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3. Cashless Hospitalization:-
 One of the biggest benefits of health insurance is cashless claims. Most top insurers
nowadays have an extensive list of network hospitals all over the country. In case if we
are suffering from a health problem and get admitted to one of the network hospitals,
we’ll mostly be able to take advantage of cashless hospitalization.
 This facility eliminates the traditional claim reimbursement process where we were
first required to clear the hospital dues and then get it reimbursed from the insurer. With
cashless treatment, the insurer will directly pay our medical bills to the hospital. Thus,
we will not be required to bear the high treatment costs from our pockets. In case if we
are admitted to a non-network hospital, we will be able to use the reimbursement claim
facility here.
4. No Claim Bonus (NCB):-
 Health insurance plans also come with a bonus element known as NCB. Health plans
are generally renewed every year by paying the insurance premium. But if we do not
file any claim for the entire year, we will be entitled to receive NCB. This NCB benefit
is also available with vehicle insurance plans. However, there is a major difference
between NCB of vehicle insurance and health insurance.
 With motor insurance, the NCB reduces the annual premium. But with health
insurance, the NCB provides us with a higher sum assured at the same premium
amount. So, if the coverage of our health insurance plan is Rs. 5 lakhs and we do not
file any claim in a year, the coverage will be increased to Rs. 5.5 lakhs (10% of
coverage) in the next year without any increment in the premium amount.

5. Availability of Add-Ons or Riders:-

 There are also many different types of add-ons available with health insurance policies.
While the add-ons slightly increase the policy premium, they help in significantly
enhancing the scope of the plan. Even if we are purchasing a basic health insurance
policy, such add-ons can make our health insurance more beneficial.
 For instance, a lot of health insurance plans exclude several critical illnesses such as
cancer or heart diseases or do not cover treatments arising from an accident. We can go

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ahead and purchase a critical illness or accident cover add-on to make sure that our
policy covers such exclusions as well.

6. Tax Benefits:-
 A large number of people in India end up purchasing health insurance just because of
the tax benefit it offers. While the tax benefit shouldn't be the reason why we invest in
health insurance, it still is a significant advantage. Under Section 80D of the IT Act, an
individual below 60 years can claim a tax deduction of up to Rs. 25,000 for the
premiums paid against a health insurance policy. If you are above 60 years, the
deduction limit is up to Rs. 50,000.
 If we have also purchased health insurance for our below 60 years parents, there is an
additional tax deduction of Rs. 25,000. In case if the age of our parents is above 60
years, the deduction available is up to Rs. 50,000. So, if we are below 60 years and
have purchased a health policy for our self, as well as, for our above 60 years parents,
the total tax deduction we can claim in a financial year is up to Rs. 75,000.

7. Peace of Mind:-
 Another significant benefit of health insurance is the peace of mind it offers. Purchasing
health insurance brings in an immense feeling of safety, especially if we have
purchased a family floater plan. Our experience a certain sense of security, knowing
that ours, as well as our family's health, is fully protected.
 Having a health plan eliminates the need for us to worry about healthcare costs and
allows us to choose the best medical care for our self and our family. Quality care can
also accelerate recovery, allowing us to get back to our healthy self sooner than
expected.

 Disadvantages:-
1. Premium Increase with Age:-
 Talking about the cons, one of the most important of them is the link between health
insurance premiums and age. Our age plays a crucial role in deciding the premium of
our policy. There can be a significant difference in the premium amount when we

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purchase a health policy when we are 30 years old and when we buy one after crossing
50 years.
 In fact, it can also be challenging to find a health insurance policy once we cross 60
years. As the chances of our suffering from a health condition increase considerably
with age, the insurers make up for the increased risk by charging a higher premium.
This is the reason why it is said that we should prefer purchasing health insurance when
we are still young.

2. Waiting period for existing health problems:-

 Most of the health insurance plans also have a waiting period of up to 2-3 years for pre-
existing diseases. If we are already suffering from a health condition such as blood
pressure, diabetes, thyroid, etc. at the time of purchasing a policy, any medical costs
arising from these conditions will not be covered until the waiting period is over.
 This is one of the biggest disadvantages of health insurance policies as it requires us to
bear the healthcare expenses even when we have purchased health insurance. This is
another reason why we should purchase a health insurance policy when we are young
and healthy. However, there are now insurance plans that come with a lower waiting
period.
3. Co-Pay Clause:-
 In order to prevent false claim filing, many of the insurance policies also have a co-pay
or deductible clause. If the policy we have purchased has a co-pay clause, we will be
required to share our medical expenses with our insurance provider. The co-pay is
generally defined in percentage of the total healthcare bill.
 For instance, if our policy has a co-pay clause of 20%, we will be required to pay 20%
of our hospital bill, and our insurer will pay the rest. Such clauses are now generally
found in cheap health plans that attract people with their low premiums. Before
purchasing a policy, we should always thoroughly check the policy document to check
the inclusions, exclusions, and other clauses.

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List of Companies Provide Health Insurance in India:-

 There are currently 30 insurance companies in India that offer reliable health insurance
plans. Out of these, 25 are general insurance companies and 5 are standalone health
insurance companies. All these companies have unique features of their own and cater
to different requirements of customers.
 Standalone Companies are Care Health Insurance Limited, Max Bupa Health Insurance
Company Limited, Aditya Birla Health Insurance Company Limited, Star Health and
Allied Insurance Company Limited and Manipal Cigna Health Insurance Company
Limited.
 Here, Bharti Axa Health Insurance has been merged with ICICI Lombard Health
Insurance and Apollo Munich with HDFC ERGO. All Companies are introduced here
as per IRDAI report:-
1. Acko General Insurance Ltd.
2. Aditya Birla Health Insurance Co. Ltd.
3. Bajaj Allianz General Insurance Co. Ltd.
4. Cholamandalam MS General Insurance Co. Ltd.
5. Manipal Cigna Health Insurance Company Limited
6. Navi General Insurance Ltd.
7. Edelweiss General Insurance Co. Ltd.
8. ECGC Ltd.
9. Future Generali India Insurance Co. Ltd.
10. Go Digit General Insurance Ltd.
11. HDFC ERGO General Insurance Co. Ltd.
12. ICICI LOMBARD General Insurance Co. Ltd.
13. IFFCO TOKIO General Insurance Co. Ltd.
14. Kotak Mahindra General Insurance Co. Ltd.
15. Liberty General Insurance Ltd.
16. Magma HDI General Insurance Co. Ltd.
17. Niba Bupa Health Insurance Co. Ltd.
18. National Insurance Co. Ltd.
19. Raheja QBE General Insurance Co. Ltd.

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20. Reliance General Insurance Co. Ltd.

21. Reliance Health Insurance Ltd.
22. Care Health Insurance Ltd. (formerly known as Religare Health Insurance Co. Ltd.)
23. Royal Sundaram General Insurance Co. Ltd.
24. SBI General Insurance Co. Ltd.
25. Shriram General Insurance Co. Ltd.
26. Star Health & Allied Insurance Co. Ltd.
27. Tata AIG General Insurance Co. Ltd.
28. The New India Assurance Co. Ltd.
29. The Oriental Insurance Co. Ltd.
30. United India Insurance Co. Ltd.
31. Universal Sompo General Insurance Co. Ltd.
 Bharti Axa General Insurance Co. Ltd. (Merged with ICICI Lombard General
Insurance Co. Ltd. Effective from 3rd September,2021)
Source:- IRDAI Report

Types of Various Policies under Health Insurance:-

1. Individual Health Insurance:-

 An Individual Health Insurance is a policy which we may buy to cover us, our spouse,
children and parents. This type of insurance policy covers our medical expenses for
injury & illnesses related hospitalization, surgery costs, room rent, daycare procedures
and more.
 Every member covered under the Individual Health Insurance plan will have an
Individual Sum Insured. For example, if we take an Individual health policy of 3 lakhs
sum insured covering our spouse, 2 kids and our self, then each person covered will
have an individual sum insured of Rs.3 lakhs. Though it makes the premium
comparatively higher.
 Individuals like us who fall in the age bracket of 18 years to 70 years can choose to buy
this plan. The best part of buying an Individual Policy is that it offers individual Sum
Insured limit for each covered member.

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2. Family Floater Health Insurance:-

 If we want an affordable health insurance policy for all the members of our family then
Family Floater Health Insurance should be our choice. Under a Family Floater Health
Insurance, single Sum Insured floats for all the members covered under the policy. A
Family Floater Health Insurance Plan is beneficial because the premium is
comparatively lower than the Individual Health Insurance policy. This policy can cover
our self, our spouse, children and parents.
 We should not consider adding members of our family who are above 60 years of age.
They are more prone to illness and hence it will impact the premium. If we or the eldest
member of our family is below 60 years of age, then we should buy a family floater
policy.

3. Group Health Insurance:-

 A Group Health Insurance policy is designed for a group of employees working
together. So if we own a start-up or a corporate house, we should buy such plans for
our employees. It is a kind of benefit offered to the employees. As an employer, we can
buy the cover to boost the rate of employee retention.
 Group Health Insurance Plan comes with a low cost premium. Some insurance
companies allow to refill the sum insured, that too, unlimited times, if it is exhausted.
A Group Health Insurance Plan covers us for hospitalization due to accident, illness,
critical illness, psychiatric illness, and maternity.
 Buying a Group Health Insurance policy not only offers coverage to our employees but
also enhance the goodwill of our company. A very crucial point here is that the
employees are covered only till the time they work with our company.

4. Senior Citizen Health Insurance:-

 The health insurance policy which is dedicatedly designed for old people above the age
of 60 years is called Senior Citizen Health Insurance Plan. If our parents or
grandparents are above 60, then this cover is a good choice for us.
 A Senior Citizen Policy will offer coverage for cost of medicines, hospitalization
arising out of accident or illness, pre and post hospitalization and treatment. Along with

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these, some other benefits like Domiciliary Hospitalization and Psychiatric benefits are
also covered.
 Add-ons like “Zone Upgrade” helps to meet the city-wise price escalation for treatment.
Other than this, we can also choose to buy alternative treatment (AYUSH) cover as an
addition. Some insurers may ask for a complete body check-up before they sell a Senior
Citizen Health Insurance Policy. The maximum entry age limit has been pushed to 70
years of age with lifetime renewability. And, as we know, the senior citizens are more
prone to illnesses, these plans are more expensive than other health insurance policies.

5. Maternity Health Insurance:-

 A Maternity cover can be bought as a rider along with the basic health insurance plan.
All the expenses incurred in the prenatal stage, delivery and post-natal stage are
covered.
 Newly married couples or families who are planning a baby in the coming years should
buy this policy. It covers for child-delivery (including medically necessary
terminations), infertility expenses and coverage for the newborn baby up to its first 90
days. The Maternity Cover has a minimum waiting period of 2 years.

6. Critical Illness Insurance:-

 The occurrence of the lifestyle-related diseases are on the rise. Keeping this in mind,
the insurance companies have offered the Critical Illness Policy.
 Dedicatedly designed for middle-class families, this health plan covers diseases like
Cancer, Stroke, Kidney Failure, Paralysis, Coronary Artery Bypass Surgery, First Heart
Attack, Pulmonary Arterial Hypertension, Multiple Sclerosis, Aorta Graft Surgery etc.
 Getting treatment for these diseases is an expensive affair. Under the Critical Illness
Plan as soon as we are diagnosed with the disease, it will pay us a predefined amount
irrespective of the actual cost of treatment incurred.
 Nothing can be a smart move than buying a Critical Illness Policy as it prevents any
impact on our savings. The policy has lifetime renewability. If we take the Critical
Illness Policy, then we should survive for 30 days after diagnosis of the illness.
 It will be wise to buy this policy if we have had a family history of some diseases. Other
than the lump sum amount, a Critical Illness Policy reimburses us the cost of care and

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hospitalization expenses. We can also avail the benefit of the complementary health
check-ups. But we should remember that once a claim is filed, then the Sum Insured is
released in lump sum. After the release of the Sum Insured, the policy terminates.

7. To-Up Health Insurance:-

 We can buy a top-up policy if we seek coverage for higher amounts. But such plans
come with a “Deductible Clause”. So, in case of a claim the payment will be made over
and above a defined limit mentioned in the policy.
 Like if we have taken a cover for 15 lakhs and it has a deductible of Rs.3 lakhs, then
we will have to bear claim up to Rs.3 lakhs. The amount over and above this, will be
paid by the insurer.
 So, if we seek a wider cover over and above our basic health insurance policy, then we
can buy this plan. Under the Health Insurance Plans, we also get a Daily Cash
Allowance offered by the insurance company. These are daily expenses reimbursed for
30-45 days and are separate from the hospitalization expenses.
 As the demand for health insurance policies increased, so increased the number of
insurance companies and their products. The medical costs are soaring and it is wise to
buy either of the policies above.

Impact of Covid-19 on Health Insurance Sector:-

 Following are some of the key points which indicate the impact of the coronavirus
pandemic on the health insurance sector of India:-
1. Claim Payouts:-
 IRDAI has mandated and instructed the health insurers to include COVID-19 covers in
their regular health insurance plans for all the policyholders. Since, the treatment of
coronavirus has not been included under the active products, these claims made by the
customers are additional burdens on the books of the insurers, especially when not
treated at the government hospitals. The insurers have to recalibrate their finances as
the number of claims for other diseases has also increased as people suffering from
critical diseases like diabetes, respiratory disorder, etc. are more prone to get diagnosed
with coronavirus. Also, due to the extension in the grace period of 30 days for renewal,
the health insurance providers can face some serious liquidity challenges.

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2. Developments of Products:-
 To serve the growing and exclusive needs of the policyholders, the health insurance
providers have made some developments and transformations in their health insurance
products. Some insurers have launched separate additional benefits, while others have
included these covers under the regular health insurance covers. These advancements
have been made to cater the needs of the customers and various features like short
waiting period, wide coverage, expenses for protective gears, etc. have been included
for all the base health insurance covers.
3. Boosted Sales:-
 People have come to realize the importance of financial backups for medical
emergencies and therefore, more and more people are investing in health insurance
policies for themselves as well as their loved ones. There are a plethora of options in
the insurance market which are available for the customers to choose from.
4. Reserve Requirement:-
 Due to the economic stress of the global pandemic, the government of India has reduced
the repo rates and bond interests, which can potentially lead to challenges in
maintaining the reserves, credit risks, liquidity risks, etc.
5. Premium Payments in Installments:-
 During the COVID-19 pandemic, the health insurance providers have enabled the
customers to pay their premium payments in installments. This feature helps the
policyholders in avoiding the exhaustion of their finances as it makes the health
insurance plans more affordable and covers a plan with high sum assured. The premium
can be paid in quarterly, half-yearly, monthly, or annual installments.
6. Digitalization of the Sector:-
 The health insurance providers have initiated online KYC of the customers with no
need for physical signatures or in office documentations. This change has made things
easy and accessible for the customers.

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Growth of Health Insurance during Pandemic in India:-

 Since the commencement of Covid-19 pandemic, health insurance premiums have been
the main driver of the non-life insurance industry. In spite of a long nationwide
lockdown, the health segment grew significantly by 34.2 per cent in YTD (year-to-
date) July 2022 in comparison to a growth of 9.9 per cent witnessed in YTD July FY21.

 While we have seen a rapid growth of the overall health insurance

sector, some key changes/trends to look out for the next year are:-
1. Consistent Growth Momentum:-
 The growth engine/trajectory will continue as the health insurance category has gained
the attention of the consumers. With a major shift in consumer perception of the
industry, the focus has gradually moved from sickness insurance to health insurance.
 The underlying cause of this change has been the rising cost of hospitalization that has
made people understand the need of buying health insurance.
 Consumers have also realized that buying a comprehensive cover is a better choice
since it extends a holistic healthcare approach with wider coverage against diseases,
pre-existing conditions or even future lifestyle conditions.
2. New and Innovative Offerings:-
 There is a growing opportunity for the industry to come up with new and innovative
product offerings that fulfil the unmet needs of the customer. A large part of the
customer segments still doesn’t have specialized health policies for them.
 There is a big gap in the market currently that is waiting to be filled with innovative
and customized products. For eg., offerings for people with certain conditions from
Day 1, offerings to cover outpatient expense coverage, look at certain segments of
customers whose needs have not been fully met yet, etc.
3. Common Health Claims Platforms:-
 Swasth alliance, a collaborative, was launched last year by Swasth Digital Health
Foundation (a not-for-profit initiative) to leverage digital technologies that will drive
healthcare inclusion and improve health outcomes. This will enable in creating a digital
backbone for an integrated healthcare delivery in India.

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 The Health Claims Exchange specifications recommended by Swasth for cashless

insurance will aid in improved patients’ claim related experience, faster claims
processing, better visibility and tracking of claims, newer innovative insurance
products, reduction in claims processing cost and better quality data for the industry
and regulators.
 This will also make the communication between all stakeholders seamless and bring in
standardization to the whole process. It will thus bring a paradigm shift in the way
claims are settled in the industry.
4. Coverage for Missing Middle:-
 As per the recent Niti Aayog report, while the Ayushman Bharat – Pradhan Mantri Jan
Arogya Yojana (AB-PMJAY) and State government extension schemes provide
comprehensive hospitalization cover to the bottom 50% of the population around 70
crore individuals, another 20 per cent i.e. 25 crore individuals are covered through
social health insurance and private voluntary health insurance. The remaining 30 per
cent of the population is devoid of health insurance and is termed as the missing middle.
 This segment predominantly constitutes the self-employed (agriculture and non-
agriculture) informal sector in rural areas, and a broad array of occupations – informal,
semi-formal, and formal in urban areas.
 The existing infrastructure of Ayushman Bharat can be utilised to extend cover to the
missing middle population.
5. New Distribution Channels:-
 We will see the emergence of large consumer tech platforms as distribution channels
for health insurance. With the rising need and value of health insurance, such newer
channels will definitely aid in a much refined customer experience along with enabling
to create a curated offering with personalization. This will also help in creating a model
that is both transparent and personalized. It will be data driven and digital that will
thereby make the process of buying and reviewing insurance easy. The pandemic has
also brought a big shift in the consumption behavior of customers. Such newer channels
will help broaden the reach of the industry, especially the millennial and the younger
population.

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6. Technology and Digitization:-

 There will be a growing use of technology and digital mediums to create new
opportunities, not just to acquire customers, but also in helping customer lifecycle
management. If health insurers have transitioned to remote sales and service teams,
customers too have become quite adept in availing digital services in every step of the
typical health insurance process. Customers have now started extensively using their
health insurers’ apps and website for accessing information and processing requests.
We expect this rise in use of digital services to be a permanent fixture in the domestic
insurance industry.
 We will also see several data-driven innovations and digital tools, machine learning,
block chains, and insurrect that will help the health insurance sector in speeding up
administrative tasks such as underwriting, processing of claims and managing customer
queries benefitting both customers and health insurers equally.
 There will also be an increased convergence in administrative tasks such as
underwriting, processing of claims and managing customer queries.

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CHAPTER:-3
Objectives

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Literature Review:-
Suman Goel (2014) examined the study was an effort in the area of health insurance.
She examined the respondents who were aware or not aware about health insurance as
well as various sources of awareness then also studied about aim of talking health
insurance and survey the barriers in the subscription of health insurance. All this study
had conducted in Rohtak district of Haryana and this study is based on primary data
collected from a sample size of 150 respondents via well-structured questionnaire
method in which 80% that is 120 respondents are suitable for the survey. The result of
this study was analyzed with the help of statistical tools like frequency and percentage
method and the result had shown low level of awareness and willingness to join in the
subscription of health insurance.

Soumak Ganguly, Priyanka Kumari Singh, Nabakumar Bhakat, Subhasree

Bhattacharyya (2021) mainly focused on the scope and growth of health insurance
sector during pandemic and post pandemic era. They identified the awareness level of
customer’s regarding health insurance in Covid-19 pandemic as well as factors that
influence customers in the selection of health insurance during pandemic and at last
their satisfaction level towards the health insurance policies. At last they conclude that
customers are aware and satisfied with their health insurance and their policy also
covers the risk of illness during pandemic.

Dr.D.Ganesan, R.Harshini, S.Praveen Nagulu, V.S.Surya (2021) studied

identification of awareness in public regard to the health insurance policies and also
studied about what kind of insurance plans were liked by the customers to put resources
into health insurance policy. Also looked at the perception of customers towards the
advantages given by health insurance policy. For that Convenience sampling technique
was used to conduct the study. The essential first-hand information gathered by
utilizing well-structured questionnaire from 165 respondents during June-July 2021
through Google forms in salem area and from that data analysis was done by statistical
tools and techniques like ANOVA, Regression analysis, Weighted average strategy,

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chi-square and Henry Garrett Ranking. Factual Package for social science (SPSS 21)
and Microsoft Excel were utilized with the end goal of information examination.
Dr.Ashfaque Ahmed (2013) examined the state of affairs of rural life insurance in
India and attempts to explore the issues and challenges which led to poor penetration
of rural life insurance markets. A field survey in Aligarh and Agra Region of the rural
customers had been conducted to examine their perception and attitude towards buying
life insurance products. This study also summarize the rural insurance marketing
practices by life insurance players in India and offers suggestive remarks for capturing
the rural potential and lastly this study discussed about micro-insurance and its short
details which was an opportunity.

Erfan Kharazmi, Shima Bordar, Hanie Gholampoor (2021) studied on 12 structural

components were obtained from 4 conceptual components which were knowledge
based economy, economic stability, economic resilience and justice. The knowledge-
based economy is the basis for the formation of economic resilience in the health
insurance systems. Health insurance systems will achieve two crucial intermediate
results, namely economic resilience, and economic stability, by building the basic
infrastructure of a knowledge-based economy. In the long run, maintaining such
intermediate results is the foundation of justice in the health insurance system.

Dr.Dharmendra S.Mistry, Dr.Pallavi C.Vyas (2021) focused on buying behavior

towards health insurance in Gujarat. The study was based on primary data collected
with the help of structured questionnaire. The study found that there is significant
influence of demographical factors on buying behavior towards health insurance. This
study was done in all eight municipal corporation- Ahmedabad, Surat, Vadodara,
Rajkot, Jamnagar, Junagadh, Bhavnagar and Gandhinagar together constituting about
75% of the total urban population. Through this study it can be said that most of the
individuals in Gujarat were without health insurance and those who were having health
insurance had inadequate health insurance coverage.

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Sharon Elizabeth Jacob, Dr.Kanchana Naidu (2021) primarily examined aims to

determine whether the recent growth is just a temporary response to the pandemic, or
whether the pandemic had indeed caused a permanent change in the mindset of the
public towards health insurance, In addition to it, the perceived benefits and satisfaction
derived from health insurance policy by policy-holders were also studied. Here,
primary data was collected via questionnaire and send it through google forms. 30
respondents’ data collected through the simple random sampling under probability
sampling and then analyze the data through the frequency and percentage methods.
Lastly result of it is majority of people are aware about the health insurance and also
satisfied with their policies.

Binod Kumar Singh (2010) examined the study of consumer behavior provides
marketers to understand and predict the future market behavior. In this paper, role of
IRDA, role of Indian banks, role of private insurance companies, functions of insurance
company, various factors influencing consumer behavior, factor influencing buying
decisions and model of consumer decision making process have been considered. Also,
the types of insurance policy taken by consumer, the total sum assured of life insurance,
the total sum assured of life insurance for the spouse, the share of public insurance in
insurance sector, share of LIC in life insurance in insurance sector and the reasons for
invested in life insurance has been studied.

Madan Mohan Dutta (2020) studied that an understanding on performance of health

insurance sector in India. This study was self-driven based on secondary data obtained
from insurance regulatory and development authority site. This study attempts to find
out how much claims and commission and management expenses it had to incur to earn
certain amount of premium. Methodology used for the study is regression analysis to
establish relationship between dependent variable (Profit/Loss) and independent
variable (Health insurance premium earned). This study indicates that there is
significant relationship between earned premium and underwriting loss.

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Proposed Title of the Project:-

 “A STUDY ON CONSUMER PERCEPTION TOWARDS HEALTH INSURANCE
IN SURAT CITY”.

Objectives:-
 Primary Objective:-
 To study the perception and awareness of Consumers about Health Insurance.
 Secondary Objectives:-
 To identify any barriers they faced while taking health insurance policy during
pandemic.
 To know the perception about health insurance.
 To study the effect of demographic factors on awareness and perception of health
insurance.

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CHAPTER:-4
Research Methodology

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Research Gap:-
 Awareness and Perception of Consumers on Health Insurance research had been done
in States like Haryana and Gujarat but specifically in Surat City it’s not conducted by
anyone so this research is based on Surat City’s Consumers awareness and perception
on Health Insurance.

Research Design:-
 This study describes the level of awareness and perception on health insurance so that
Descriptive Research design is most suitable for Research in which Cross-sectional
Research Design is preferred for this study in the year 2022-23.

Scope of the Study:-

 This study on awareness and perception of health insurance is applicable to customers
of Surat City and the survey is conducted in the year 2022-23.

Population:-
 The population for this study is potential customers from Surat City and it belongs to
different sections of the society such as different age group, different income group,
different occupation, different gender etc.

Sampling:-
 Sampling Technique:-
 The researcher hade choice between probability and non-probability sampling
methods. In this study non-probability sampling method namely convenience sampling
method is adopted.
 Sample Size:-
 Sample size refers to number of elements to be included in the study. In this study the
sample size of the survey is conducted on 200 respondents.

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Data Collection:-
 Type and Source of Data:-
 Here data is mainly based on Primary Data and also Secondary Data is used for the
study.
 Method of Data Collection:- A) Primary Data:- Personal interview
B) Secondary Data:- Articles, Books, Web sites etc.
 Instrument:-
 Primary Data is collected from the people by means of well-structured questionnaire .

Data Analysis:-
 To analyze collected data, Here frequency and percentage methods are used and also
various types of charts so that ordinary people can easily understand and answer the
questions conveniently. In this study data analysis tools are frequency method,
percentage method, pie charts, bar charts, tables, graphs, and chi-square test etc.

Projected Limitations:-
 There were certain limitations in undertaking this research work which are describe
here:-
 The conducted survey may not be considered as comprehensive as only limited
respondents could be conducted.
 Only limited sample size had been considered for the study and therefore, the
conclusion drawn based on this may not be a reflection of the entire population.
 Some of the respondent were unwilling to give their responses.

Further future scope of the Study:-

 In this study only people of Surat city in which some areas are surveyed and also cost
of survey in other area is more than this survey area. So, here further scope of the
study is other area of city and also other cities or states study can conduct and get
responses from more respondents.

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CHAPTER:-5
Data Analysis & Interpretation

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1) Demographic Segments:-
Table:-1
Gender
Frequency Percent Valid Percent Cumulative
Percent
Valid Male 121 60.5 60.5 60.5
Female 79 39.5 39.5 100.0
Total 200 100.0 100.0

 Interpretation:-
Table:-1, Gender distribution, 200 responses are collected in which it is found that the
majority of respondents are Male with total of 121 respondents which is 60.50% and
the Female are only 79 which is 39.50%.

Table:-2
Age
Frequency Percent Valid Percent Cumulative
Percent
Valid Up to 25 11 5.5 5.5 5.5
25 to 35 75 37.5 37.5 43.0
35 to 55 110 55.0 55.0 98.0
Above 55 4 2.0 2.0 100.0
Total 200 100.0 100.0

 Interpretation:-
Table:-2, Age distribution shows that those of age bracket 33 to 55 are majority with
110 respondents which is 55.00% of overall distribution. This indicates that majority
of elder people are preferred for the research. Here, Above 55 respondents are least as
compare to other Age category which is only 2.00%.

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Table:-3
Education
Frequency Percent Valid Percent Cumulative
Percent
Valid Up to Secondary level (0 to 67 33.5 33.5 33.5
10)
Higher Secondary level 38 19.0 19.0 52.5
(11&12)
Graduation 66 33.0 33.0 85.5
Post-Graduation or 29 14.5 14.5 100.0
Professional
Total 200 100.0 100.0

 Interpretation:-
Table:-3, Education Level represent that around 67.00% respondents are covered under
two categories, First is up to secondary level which includes 67 respondents and Second
is Graduation which includes 66 respondents of whole research. Other than this
categories higher secondary level and post-graduation also have 38 and 29 respondents
respectively.

Table:-4
Occupation
Frequency Percent Valid Percent Cumulative
Percent
Valid Professional 25 12.5 12.5 12.5
Business Person 69 34.5 34.5 47.0
Employee in Private 63 31.5 31.5 78.5
Company
Government Employee 5 2.5 2.5 81.0
Other 38 19.0 19.0 100.0
Total 200 100.0 100.0

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 Interpretation:-
Table:-4, Occupation distribution, In which 69 respondents are Business Person which
is 34.50% among the categories and highest among this. Employee in Private Company
are also 63 respondents which is 31.50% and second highest. Here, Government
employees are only 5 which is only 2.50% of all this categories.

Table:-5
Annual Income
Frequency Percent Valid Percent Cumulative
Percent
Valid Up to 2.5 lakh 105 52.5 52.5 52.5
2.5 lakh to 5 lakh 59 29.5 29.5 82.0
5 lakh to 7.5 lakh 26 13.0 13.0 95.0
7.5 lakh to 10 lakh 4 2.0 2.0 97.0
Above 10 lakh 6 3.0 3.0 100.0
Total 200 100.0 100.0

 Interpretation:-
Table:-5, Annual Income, Which shows that 105 respondents have up to 2.5 lakh
income which indicates that majority of respondents belongs to middle class family.
29.50% which is 59 respondents have 2.5 lakh to 5 lakh income annually. 4 respondents
are included in 7.5 lakh to 10 lakh income slab which is only 2.00% of overall research.

2) Research related Questions:-

Table:-6
Health Insurance status of Respondent
Frequency Percent Valid Percent Cumulative
Percent
Valid No 76 38.0 38.0 38.0
Yes 124 62.0 62.0 100.0
Total 200 100.0 100.0

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 Interpretation:-
Table:-6, Health Insurance status of respondents shows that how many respondents
have health insurance and how many have not, In which through this table we can see
that 124 respondents have health insurance and this indicates around 62.00% of
respondents are aware about health insurance and their benefits. While other 76
respondents which is 38.00% don’t have health insurance in this research.

Chart:-1
 When did you take it? (When you should have taken it?):-

When took Health Insurance

25.50%

Before Covid-19 Pandemic

During Covid-19 Pandemic
56%
Not sure

18.50%

 Interpretation:-
Chart:-1, Represents the duration of taking health insurance by respondents in which
112 respondents which is 56.00% have insurance before covid-19 pandemic and 37
respondents which is 18.50% have insurance during covid-19 pandemic which shows
that before pandemic majority of respondents have health insurance . Here, 25.50%
respondents are not sure about duration which is 51 respondents.

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Chart:-2
 Your health insurance provider or From whom you like to take it?:-

Health Insurance Provider

21.50%

Private Insurance Provider

52.50% Government Insurance Provider

Not sure
26.00%

 Interpretation:-
Chart:-2, In this pie chart research had done on provider of health insurance in which
105 respondents have insurance from the private insurance provider while 52
respondents have insurance from government insurance provider this is 52.5% and
26.00% respectively. Here, 21.50% respondents have no idea about their provider or
they can’t decide that from whom they have to buy health insurance.

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Chart:-3
 Health Insurance Coverage do you have or would like to buy it?:-

Health Insurance Coverage

16.50%
28.50%

Individual Health Insurance

Family Floater Health Insurance
Not sure

55.00%


 Interpretation:-
Chart:-3, This pie chart indicates the kind of health insurance coverage respondents
have in their family or themselves. In this chart majority of respondents have family
floater health insurance which is almost 55.00% of overall distribution. Here,
Respondents who have individual health insurance are half of the family floater health
insurance which is 57 respondents (28.50%).

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Chart:-4
 Annual Premium you have or would like to have in your plan:-

Annual Premium
34.50% 34.50%
35.00%
30.00%
25.00%
Percentage

20.00% 16.50%

15.00% 11.50%

10.00%
3.00%
5.00%
0.00%
Below-5000 5000-15000 15000-30000 Above-30000 Not sure
Premium

Annual Premium

 Interpretation:-
Chart:-4, The Annual Premium distribution column chart shows the premium paid by
respondents annually or they want to pay when they will buy insurance. Below 5000
premium and between 5000 to 15000 premium have same number of respondents
which are around 34.50% of overall distribution. Here 3.00% respondents included in
above 30000 premium which is obviously lowest among all this categories.

Table:-7
7.1 Cross Tabulation between Gender & Health Insurance Status:-

Health Insurance status of Total

Respondent
No Yes
Gender Male 33 88 121
Female 43 36 79
Total 76 124 200

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7.2 Chi-Square Test:-

 H0:- There is no significant difference between Gender and Health Insurance Status
 H1:- There is significant difference between Gender and Health Insurance Status

Chi-Square Tests
Value df Asymp. Sig. Exact Sig. Exact Sig.
(2-sided) (2-sided) (1-sided)
Pearson Chi-Square 14.962a 1 .000
Continuity Correctionb 13.832 1 .000
Likelihood Ratio 14.929 1 .000
Fisher's Exact Test .000 .000
Linear-by-Linear 14.887 1 .000
Association
N of Valid Casesb 200
a. 0 cells (.0%) have expected count less than 5. The minimum expected count is 30.02.
b. Computed only for a 2x2 table

 Interpretation:-
In Table 7.2 we can see that Chi-Square value P=0.000 which is less than the value
0.05, so we reject H0 which indicates there is a significant relationship between gender
and health insurance status.

Table:-8
8.1 Cross Tabulation between Gender & When Health Insurance was
taken:-

Gender Total
Male Female
When Health Before Covid-19 Pandemic 69 43 112
Insurance was taken
During Covid-19 Pandemic 25 12 37
Not sure 27 24 51
Total 121 79 200

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8.2 Chi-Square Test:-

 H0:- There is no significant difference between Gender and When Health Insurance
was taken
 H1:- There is significant difference between Gender and When Health Insurance was
taken

Chi-Square Tests
Value Df Asymp. Sig. (2-sided)
Pearson Chi-Square 2.050a 2 .359
Likelihood Ratio 2.048 2 .359
Linear-by-Linear Association .749 1 .387
N of Valid Cases 200
a. 0 cells (.0%) have expected count less than 5. The minimum expected count is 14.62.

 Interpretation:-
In Table 8.2 we can see that Chi-Square value P=0.359 which is more than the value
0.05, so we fail to reject H0 which indicates there is no significant relationship between
gender and when health insurance was taken.

Table:-9
9.1 Cross Tabulation between Education & When Health Insurance was
taken:-

When Health Insurance was taken Total

Before During Not sure
Covid-19 Covid-19
Pandemic Pandemic
Education Up to Secondary level 31 15 21 67
(0 to 10)
Higher Secondary 25 5 8 38
level (11&12)
Graduation 43 10 13 66
Post-Graduation or 13 7 9 29
Professional
Total 112 37 51 200

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9.2 Chi-Square Test:-

 H0:- There is no significant difference between Education and When Health Insurance
was taken
 H1:- There is significant difference between Education and When Health Insurance was
taken

Chi-Square Tests
Value df Asymp. Sig. (2-sided)
a
Pearson Chi-Square 7.861 6 .249
Likelihood Ratio 7.919 6 .244
Linear-by-Linear Association .667 1 .414
N of Valid Cases 200
a. 0 cells (.0%) have expected count less than 5. The minimum expected count is 5.37.

 Interpretation:-
In Table 9.2 we can see that Chi-Square value P=0.249 which is more than the value
0.05, so we fail to reject H0 which indicates there is no significant relationship between
education and when health insurance was taken.

Table:-10
10.1 Cross Tabulation between Occupation & Health Insurance
Provider:-

Provider of Health Insurance Total

Private Government Not sure
Insurance Insurance
Provider Provider
Occupation Professional 12 8 5 25
Business Person 38 16 15 69
Employee in Private 36 14 13 63
Company
Government Employee 4 1 0 5
Other 15 13 10 38
Total 105 52 43 200

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10.2 Chi-Square Test:-

 H0:- There is no significant difference between Occupation and Health Insurance
Provider
 H1:- There is significant difference between Occupation and Health Insurance Provider

Chi-Square Tests
Value Df Asymp. Sig. (2-sided)
a
Pearson Chi-Square 5.882 8 .660
Likelihood Ratio 6.858 8 .552
Linear-by-Linear Association .610 1 .435
N of Valid Cases 200
a. 3 cells (20.0%) have expected count less than 5. The minimum expected count is 1.08.

 Interpretation:-
In Table 10.2 we can see that Chi-Square value P=0.660 which is more than the value
0.05, so we fail to reject H0 which indicates there is no significant relationship between
occupation and health insurance provider.

Table:-11
11.1 Cross Tabulation between Education & Health Insurance Provider:-

Provider of Health Insurance Total

Private Government Not sure
Insurance Insurance
Provider Provider
Education Up to Secondary level 33 16 18 67
(0 to 10)
Higher Secondary 17 13 8 38
level (11&12)
Graduation 42 14 10 66
Post-Graduation or 13 9 7 29
Professional
Total 105 52 43 200

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11.2 Chi-Square Test:-

 H0:- There is no significant difference between Education and Health Insurance
Provider
 H1:- There is significant difference between Education and Health Insurance Provider

Chi-Square Tests
Value Df Asymp. Sig. (2-sided)
a
Pearson Chi-Square 6.652 6 .354
Likelihood Ratio 6.606 6 .359
Linear-by-Linear Association .852 1 .356
N of Valid Cases 200
a. 0 cells (.0%) have expected count less than 5. The minimum expected count is 6.24.

 Interpretation:-
In Table 11.2 we can see that Chi-Square value P=0.354 which is more than the value
0.05, so we fail to reject H0 which indicates there is no significant relationship between
education and health insurance provider.

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Table:-12
12.1 Cross Tabulation between Occupation & Health Insurance
Coverage:-

Health Insurance Coverage Total

Individual Family Floater Not sure
Health Health
Insurance Insurance
Occupation Professional 3 18 4 25
Business Person 20 39 10 69
Employee in Private 18 33 12 63
Company
Government 2 3 0 5
Employee
Other 14 17 7 38
Total 57 110 33 200

12.2 Chi-Square Test:-

 H0:- There is no significant difference between Occupation and Health Insurance
Coverage
 H1:- There is significant difference between Occupation and Health Insurance
Coverage

Chi-Square Tests
Value Df Asymp. Sig. (2-sided)
Pearson Chi-Square 7.056a 8 .531
Likelihood Ratio 8.372 8 .398
Linear-by-Linear Association 1.130 1 .288
N of Valid Cases 200
a. 4 cells (26.7%) have expected count less than 5. The minimum expected count is .83.

 Interpretation:-
In Table 12.2 we can see that Chi-Square value P=0.531 which is more than the value
0.05, so we fail to reject H0 which indicates there is no significant relationship between
occupation and health insurance coverage.

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Table:-13
13.1 Cross Tabulation between Annual Income & Annual Premium
inHealth Insurance:-

Annual Income Total

Up to 2.5 lakh 5 lakh 7.5 lakh Above
2.5 to 5 to 7.5 to 10 10 lakh
lakh lakh lakh lakh
Annual Below-5000 51 13 3 0 2 69
Premium 5000-15000 25 30 12 1 1 69
15000-30000 2 12 8 1 0 23
Above-30000 2 0 1 2 1 6
Not sure 25 4 2 0 2 33
Total 105 59 26 4 6 200

13.2 Chi-Square Test:-

 H0:- There is no significant difference between Annual Income and Annual Premium
 H1:- There is significant difference between Annual Income and Annual Premium

Chi-Square Tests
Value df Asymp. Sig. (2-sided)
Pearson Chi-Square 91.035a 16 .000
Likelihood Ratio 74.275 16 .000
Linear-by-Linear Association 2.164 1 .141
N of Valid Cases 200
a. 15 cells (60.0%) have expected count less than 5. The minimum expected count is .12.

 Interpretation:-
In Table 15.2 we can see that Chi-Square value P=0.000 which is less than the value
0.05, so we reject H0 which indicates there is significant relationship between annual
income and annual premium.

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Chart:-5
 Companies in which Respondents have Health Insurance Plan:-

Health Insurance Companies

13%
Life Insurance Corporation
3%
2% SBI General Insurance
3%
42% HDFC ERGO General Insurance
6%
Star Health Insurance
Aditya bealth health insurance
Reliance Health Insurance
15% IFFCO Tokio General Insurance
Bajaj Allianz Health Insurance

5% Others
11%

 Interpretation:-

Chart:-5, Pie Chart of health insurance companies shows that in which company
respondents have health insurance. In this chart we can clearly see that 42.00%
respondents have their health insurance in life insurance corporation which almost half
of whole pie chart and other than this star health insurance have 15.00% respondents
and HDFC ergo has 11.00% respondents out of 200 respondents.

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Chart:-6

 Source of Awareness about Health Insurance:-


Source of Awareness

102
Agents / Experts 98

Family, Relatives, Friends, etc. 60

140
Source

Newspaper, Articles, Journals, etc. 156

44

Social Media 139

61

Television 156
44

0 20 40 60 80 100 120 140 160

Frequency

No Yes

 Interpretation:-

Chart:-6, Bar Chart shows that from where respondents get information about health
insurance in which television is less preferred source of awareness.

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Chart:-7

 Reasons for not taking Health Insurance:-

Reasons for not taking Health Insurance

Mentality of Claim Rejection 141

59

No Return for Investment 115

85
Reasons

Inadequate knowledge about claim settlement process 141

59

Lack of Awareness of Health Insurance 93

107

Not Affordable 85
115

0 20 40 60 80 100 120 140 160

Frequency

No Yes

 Interpretation:-
Chart:7, Bar Chart shows the frequency of the reasons that why people not take health
insurance. So, here we can see the all multiple reasons where some give more than one
answer. Here, financial problem is most preferred option with 115 respondents.

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Table:-14
Covid-19 cover in health insurance policy
Frequency Percent Valid Percent Cumulative
Percent
Valid No 39 19.5 19.5 19.5
Yes 91 45.5 45.5 65.0
Not sure 70 35.0 35.0 100.0
Total 200 100.0 100.0

 Interpretation:-
Table:-14, In this table responses are taken based on respondents health insurance
policy in which, 200 responses are collected in which it is found that the majority of
respondents have with total of 91 respondents which is 60.50% and other are only 39
which is 19.50%.

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Table:-15
Purchase system of Health Insurance
Frequency Percent Valid Percent Cumulative
Percent
Valid You approach to the 92 46.0 46.0 46.0
Company or Agent
Company or Agent 108 54.0 54.0 100.0
approaches to you
Total 200 100.0 100.0

 Interpretation:-
Table:-15, This table shows the purchase system of health insurance in which 200
responses are collected in which it is found that the majority of respondents are get
health insurance from agents with total of 108 respondents which is 54.00% and other
are only 92 which is 46.00%.

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Chart:-8

Would you like to recommend your health insurance to other ?

Chart Title

definitely not probably not might probably would definitely would




 Interpretation:-
Chat 8, shows insurance purchasers are like to recommend their policy to other or not.
Chart shows 60% respondents are probably or definitely would like to recommend their policy to
other. 


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CHAPTER:-6
Findings and Conclusion

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 Findings:-
 The finding of the study revealed that the participation of male is more which is 60.50%
of overall responses where, female participation is only 39.50% in Awareness and
Perception of health insurance. Here, elder generation includes 35 to 45 year age is
more engaged with the health insurance.
 It can be also concluded from the result of data analysis that more than half of the
respondents have health insurance which is 62.00% and if they haven’t than they want
to buy in future.
 Here, awareness with the terms included in health insurance are premium, claim, co-
payment, deductible, grace period etc. are included in which premium has 50.00%
awareness and claim has 37.50% awareness which is most aware and known terms to
the respondents.
 From above analysis we can see that in Life Insurance Corporation is most preferable
company for health insurance in which 42.00% respondents have insurance or they
want to have and second most preferable company is HDFC Health Insurance
Company which has 14.00% responses among all other companies.
 Now, above statement shows that other companies should do more awareness
campaign for attracting people to show more awareness in their company. This is more
important thing in this research.
 After this point some respondents do not have health insurance in which they give some
reasons for this in which through analysis it can be concluded that financial problem is
one of the reasons for not buying health insurance. Other than this some respondents
believe that awareness on health insurance is one of the reasons for not buying health
insurance.

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 Conclusion:-
 At last, It is concluded that still awareness on health insurance is not much in the
respondents which is not good thing for people’s health and financial stability. People
have to buy insurance and all insurance companies have to promote their products more
conveniently.
 The general satisfaction levels among public with regards to policy and plan still
requires improvements. But therein lies the opportunity for relative new comer
companies to serve more facility to the people who really want such kind of services.
 It is also concluded that the companies could initiate various steps and adopt some
recommendations, if not all, can further improve its performance and occupy a leading
position among other competitors in health insurance sector in future.

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ANNEXURE

 Questionnaire for Research:-

Respondent No.:-
“A study on Perception towards Health Insurance in Surat City”
Dear Respondent,
I am Bharat Moradiya, 3rd year student of B.R.C.M. College of Business Administration,
Conducting research towards perception about health insurance. So all your responses
will be beneficial for me and used for academic purpose only.

1. Name (Name_Surname)

2. Gender
Male
Female

3. a
g
Up to 25
e
25 to 35
35 to 55
Above 55

4. Education
Up to Secondary level (0 to 10)
Higher Secondary Level (11&12)
Graduation
Post-Graduation or Professional

5. Occupation
Professional
Business Person
Employee in Private Company
Government Employee
Other:-

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6. Annual Income
Upto 2.5 lakh
2.5 lakh to 5 lakh
5 lakh to 7.5 lakh
7.5 lakh to 10 lakh
Above 10 lakh

7. Contact Number

8. Do you have Health Insurance?

Yes
No

9. When did you took it? (When you should have taken it?)
Before Covid-19 Pandemic
During Covid-19 Pandemic
Not Sure

10. Who is your health insurance provider ?

Private Insurance Provider
Government Insurance Provider
Not Sure

11. Which kind of health insurance Coverage do you have?

Individual Health Insurance
Family Floater Health Insurance
Not Sure

12. In which company you have your Health Insurance Plan?

13. How much annual premium do you pay?

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Below-5000
5000-15000
15000-30000
Above-30000
Not Sure

14. Which is your source of awareness about health insurance? (You can choose
multipleoption)
Television
Social Media
Newspaper, Articles, Journals etc.
Family, Relatives, Friends etc.
Agents / Experts
Other:-

15. Which are the reasons for not taking health insurance as per your opinion? (You can
choose multiple option)
Not Affordable
Lack of awareness of health insurance
Inadequate knowledge about claim settlement process
No Return for Investment (If not any claim occurs)
Mentality of Claim Rejection
Other:-

16. Are you planning to buy health insurance?

yes

no

17. If yes then from which company you would like to purchase?

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18. Does your current health insurance plan cover covid-19 disease or would you like
tobuy that type of plan?
Yes
No
Not Sure

19. How did you purchase or would like to purchase your health insurance?
You approach to the Company or Agent
Company or Agent approaches to you

20. Would you like to recommend your health insurance plan to other?

Definitely not
Probably not
Might
Probably would
Definitely would

B.R.C.M. COLLEGE OF BUSINESS ADMINISTRATION